Synovus Completes Acquisition of First Nation Bank

Business Wire, Feb 27, 2003

Business Editors

COLUMBUS, Ga.--(BUSINESS WIRE)--Feb. 27, 2003

Synovus (NYSE:SNV), the Columbus, Georgia based diversified financial services company, today announced the completion of its acquisition of $340.7 million asset FNB Newton Bankshares, Inc., the parent company of First Nation Bank in Covington, Georgia.

First Nation Bank has ten branches serving Newton, Henry and Rockdale Counties. FNB further expands Synovus' presence in the high-growth Metro Atlanta area.

First Nation Bank will continue to operate under its existing name, management team and local board of directors.

Synovus has more than $19 billion in assets and provides integrated financial services including banking, financial management, insurance, mortgage and leasing services through 38 affiliate banks and other Synovus offices in Georgia, Alabama, South Carolina, Florida and Tennessee; and electronic payment processing through an 81-percent stake in TSYS (NYSE: TSS), the world's largest third-party processor of international payments. Synovus is No. 9 on FORTUNE magazine's list of "The 100 Best Companies To Work For" in 2003. See Synovus on the Web at www.synovus.com.